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Nigeria: Okra Secures $3.5m Seed Round To Expand Its Data Infrastructure

Fintech

Startups

April 21, 2021, 3:49 p.m.

Open Finance Pioneer, Okra, has secured a $3.5m seed round to expand its data infrastructure just under a year from closing its $1m pre-Seed round with only TLcom Capital participating in the round.

The round was led by US-based Susa Ventures, with participation from existing investors TLcom Capital, and newly joined Accenture Ventures.

Okra is an Open Finance platform that enables businesses and developers to build personalized digital services and financial products for customers. Its API creates a secure portal and process to exchange real-time financial information between customers, applications, and banks.

Commenting on the round, Fara Ashiru Jituboh, Okra co-founder and CEO/CTO said “We build the tools that businesses need to achieve full digital transformation and we are excited to be welcoming some highly strategic global investors as we scale our Open Finance-as-a-Service operations. The opportunities to collaborate and grow together are significant and we are now in a strong position to continue to build and scale in the African, and global API space.”

Tom Lounibos, Managing Director of Accenture, a global professional services company that also participated in the round added “Fara and David have a compelling vision and value proposition, and we believe Okra’s powerful technology can address critical challenges in the African financial market. We look forward to working together to help Okra scale its solutions for maximum impact.“

Since its launch, the fintech infrastructure company has provided its services to high-caliber financial institutions, startups, and government agencies including Interswitch, Access Bank, uLesson, Aella App, and over 100 digital-first platforms.

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Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.

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